The U.S. Treasury announced Monday new measures financial emergency to allow the federal government to continue to operate while the government fails to obtain an increase in the statutory limit on public debt. As expected the Treasury, the public debt subject to the ceiling set by Congress was to meet on Monday 14 294 billion threshold beyond which the state can not increase its indebtedness.
Accordingly, the department will temporarily cease to supply as much as it should fund pensions of officials, said Treasury Secretary Timothy Geithner, in a letter to the head of the Democratic majority in the Senate, Harry Reid and key congressional leaders. These measures have no implications on the payment of pensions due today.
Prescribed by law, they emerge as the Treasury room to $ 224 billion for the state to continue issuing debt on schedule, until August 2, without increasing its net debt. The ministry confirmed Tuesday it had issued bonds to twenty-eight days for $ 28 billion. According to the calculations of the Ministry, the State may by more cons operate beyond August 2, if the debt cap is not raised.
The state would then be in default of payment on certain obligations, which would have "disastrous economic consequences," writes Mr. Geithner. For now, nobody wants to believe such a scenario. The changing market for U.S. government bonds do indeed reflects little concern: investors seem to believe, as Mr.
Geithner that Congress will finally act and that the probability of default, even limited federal state is zero. The Treasury publishes daily figures on government debt with a lag of twenty-four hours. Confirmation that the cap was reached so should drop officially until Tuesday, but a ministry official told the press that nothing challenged the Treasury forecasts.
The Treasury had already suspended in early May issuance of certain securities intended to alleviate the public finances of the States and local communities. He recalls having had recourse to extraordinary measures implemented since the beginning of the month on several occasions over the last twenty years, during similar political deadlocks, in 1996, 2002, 2003, 2004 and 2006. 
Accordingly, the department will temporarily cease to supply as much as it should fund pensions of officials, said Treasury Secretary Timothy Geithner, in a letter to the head of the Democratic majority in the Senate, Harry Reid and key congressional leaders. These measures have no implications on the payment of pensions due today.
Prescribed by law, they emerge as the Treasury room to $ 224 billion for the state to continue issuing debt on schedule, until August 2, without increasing its net debt. The ministry confirmed Tuesday it had issued bonds to twenty-eight days for $ 28 billion. According to the calculations of the Ministry, the State may by more cons operate beyond August 2, if the debt cap is not raised.
The state would then be in default of payment on certain obligations, which would have "disastrous economic consequences," writes Mr. Geithner. For now, nobody wants to believe such a scenario. The changing market for U.S. government bonds do indeed reflects little concern: investors seem to believe, as Mr.
Geithner that Congress will finally act and that the probability of default, even limited federal state is zero. The Treasury publishes daily figures on government debt with a lag of twenty-four hours. Confirmation that the cap was reached so should drop officially until Tuesday, but a ministry official told the press that nothing challenged the Treasury forecasts.
The Treasury had already suspended in early May issuance of certain securities intended to alleviate the public finances of the States and local communities. He recalls having had recourse to extraordinary measures implemented since the beginning of the month on several occasions over the last twenty years, during similar political deadlocks, in 1996, 2002, 2003, 2004 and 2006.
- Message From Senator Mac Harb on the Seal Hunt (26/04/2011)
- The Good, the Bad, and the Weird / Le bon, la brute, et le cinglé (14/03/2011)
- Mon Voyage aux États-Unis (16/05/2011)
- Emma Watson: 'Tresor Midnight Rose' Launch (10/05/2011)
- AFP: AT&T achète T-Mobile à Deutsche Telekom pour 39 milliards de dollars (20/03/2011)
No comments:
Post a Comment